WASHINGTON, July 10 — The shift is unmistakable: the Trump administration is preparing to throw a much heavier economic punch at Russia, reportedly backing tariffs on Russian oil as high as 50% or more. This isn’t just another round of sanctions. It’s a direct move to starve the Kremlin of the energy revenue that fuels its war machine in Ukraine.
According to sources familiar with internal discussions, the proposed tariffs would target Russian crude oil imports specifically. The aim is clear: cut into the billions Russia earns from energy exports, money that directly funds its military operations.
The war in Ukraine, which began with Russia’s full-scale invasion on February 24, 2022, has already led to tens of thousands of casualties and significant destruction. This new proposal represents a more direct economic weapon than previous measures. The plan is still under internal review.
It would also require coordination with allies, especially European nations that remain dependent on Russian energy supplies. Key figures involved include U.S. Treasury Secretary Scott Bessent and National Security Advisor Mike Waltz.
The numbers tell the story of why this matters. In 2023, Russia earned approximately $188 billion from oil and gas exports. That’s down from $282 billion in 2022, thanks to existing price caps and sanctions.
The proposed tariffs aim to further cut these revenues. Oil exports account for a substantial portion of Russia’s state budget, making this a strategic pressure point. This marks a shift in the administration’s posture.
Earlier, there was reluctance to escalate economic pressure on Russia. Now, the move is part of broader efforts to bring Russia to the negotiating table.
President Trump has previously claimed he could end the war in 24 hours. The proposal isn’t without potential opposition. Some Republican lawmakers favor a less interventionist approach and may push back against these tariffs.
Meanwhile, the European Union has already imposed multiple sanctions packages on Russia, including an oil price cap of $60 per barrel set by the G7 in December 2022. The Trump administration’s tariff plan would go beyond those existing measures.
What’s changing here is the mechanism. Price caps and sectoral sanctions have been the tools of choice. Tariffs are a more direct instrument — a trade war tactic applied to a geopolitical conflict.
Watch this space for how European allies react, especially given their own energy vulnerabilities. The trend underneath is clear: the administration is moving from earlier reluctance to active economic pressure on Russian oil. Whether this brings Russia to the table or simply hardens its position is the open question.
The internal review continues, but the direction is set.
